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Chicago City Wire

Wednesday, December 25, 2024

Former EMT fire engineer Angelini paid in $174K to pension fund, could collect $3.86M in retirement

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Former EMT fire engineer John Angelini, who retired in November 2016, saved $173,762 toward a pension over 29 years working for fire departments, Firemen's Annuity and Benefit Fund of Chicago records show.

Over 30 years of retirement, Angelini would collect as much as $3.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Angelini received $81,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Angelini will have already received $250,618 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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